Frontier Oil Corporation Merger Litigation (NYSE: FTO)
Law Office of Brodsky & Smith, LLC Announces Investigation of Frontier Oil Corporation.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Frontier Oil Corporation. (“Frontier Oil” or the “Company”) (NYSE - FTO - News) relating to the proposed acquisition by Holly Corporation. (“Holly”).
Under the terms of the transaction, Frontier Oil shareholders would receive 0.4811 shares of Holly stock for each share of common stock they own. The proposed transaction values Frontier Oil at approximately $26.99, excluding any dividend. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Frontier Oil by not acting in Frontier Oil shareholders' best interests in connection with the sale process to Holly. The transaction may undervalue Frontier Oil as Frontier Oil stock traded at $28.94 as recently as February 17, 2011 and an analyst placed a target price for Frontier stock at $33 per share.
If you own shares of Frontier Oil stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, or by calling toll free 877-LEGAL-90.
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